3 Monster Stocks to Hold for the Next 10 Years

What's a monster stock? It's a well-established company that's demonstrated its strengths over time. You can count on this player for its portfolio of products and its ability to bring in revenue quarter after quarter. The healthcare industry is a great place to look for such investments. Here, you'll find many companies that have been around for years, selling blockbuster drugs and leading medical devices, for example.

These stocks may not deliver huge gains over a short period of time, but over a decade, they could help you generate a significant win. And these are exactly the sorts of building blocks that make a great portfolio. It's important to remember that, in investing, you'll increase your chances of success by holding onto stocks for the long term -- by this I mean at least five years. But 10 years is even better, as it offers the company the opportunity to grow -- and this period may also reduce the impact of any downturns along the way.

Let's check out three monster stocks to hold for the next ten years.

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1. Eli Lilly

Eli Lilly (NYSE: LLY) has been at the center of attention in recent times. This is because the company is leading in one of the highest-growth areas in healthcare: the weight loss drug market, one on track to reach nearly $100 billion by the end of the decade. Lilly's Mounjaro and Zepbound have been generating blockbuster revenue, together surpassing $12 billion in the recent quarter, and driving growth at the pharma giant -- and this is likely to continue.

Lilly recently won approval for Foundayo, a weight loss pill, has a promising candidate in late-stage trials, and is working on other candidates too. Since demand is high in this market, Lilly is wise to make this portfolio a priority.

The company also sells a variety of other drugs across treatment areas and has a long history of earnings growth. So, with Lilly, you gain the stability often found in healthcare companies, along with the weight loss drug growth opportunity that should continue to bear fruit in the years to come.

2 AbbVie

When AbbVie's (NYSE: ABBV) mega-blockbuster Humira headed toward patent expiration, investors worried. After all, the drug at its peak in 2022 brought in more than $21 billion in sales.

But AbbVie prepared for this moment with the development of newer immunology drugs Skyrizi and Rinvoq, and these products are now driving a new era of growth at the company. In the recent quarter, Skyrizi and Rinvoq delivered double-digit increases in revenue to levels of more than $4 billion and $2 billion, respectively. So, it's clear AbbVie has what it takes to surmount the Humira patent expiry.

The company also has a broad portfolio of star products in other indications, from Botox, used in neuroscience and aesthetics, to Vraylar, a treatment for bipolar disorder.

Expansion of indications for its major immunology drugs, as well as a solid pipeline, offer further reasons for optimism -- and to hold onto this pharma stock for the coming decade.

3. Abbott Laboratories

I like Abbott Laboratories (NYSE: ABT) for the company's diversification, something that could make it resilient during challenging times. Abbott includes four business units: medical devices, diagnostics, nutrition, and established pharmaceuticals. If one of these areas faces a headwind, another business may compensate. For example, in later pandemic days, Abbott's coronavirus test sales dropped, while medical device sales picked up momentum.

Abbott also is the name behind leading products and brands, such as the FreeStyle Libre continuous glucose monitor and the Ensure nutrition drink. And the company continues to innovate, winning the regulatory nod for new products -- it recently earned clearance for its next-generation Ultreon artificial intelligence-powered coronary imaging platform. And the company recently completed its acquisition of Exact Sciences, a move that offers it leadership in the oncology diagnostics market.

All of this positions Abbott well for long-term gains, making it a fantastic healthcare stock to buy now and hang onto as this story unfolds.

Adria Cimino has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends AbbVie, Abbott Laboratories, and Eli Lilly. The Motley Fool has a disclosure policy.